Wall Street brokerages expect Eaton Vance (NYSE:EV) to post sales of $425.27 million for the current fiscal quarter, Zacks reports. Three analysts have made estimates for Eaton Vance’s earnings. The lowest sales estimate is $422.60 million and the highest is $427.82 million. Eaton Vance reported sales of $374.63 million during the same quarter last year, which indicates a positive year-over-year growth rate of 13.5%. The firm is expected to report its next quarterly earnings results on Wednesday, May 23rd.
According to Zacks, analysts expect that Eaton Vance will report full-year sales of $1.74 billion for the current year, with estimates ranging from $1.73 billion to $1.75 billion. For the next year, analysts anticipate that the company will post sales of $1.86 billion per share, with estimates ranging from $1.83 billion to $1.88 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side analysts that cover Eaton Vance.
Eaton Vance (NYSE:EV) last posted its quarterly earnings data on Tuesday, February 27th. The asset manager reported $0.78 EPS for the quarter, topping the consensus estimate of $0.75 by $0.03. The company had revenue of $421.40 million during the quarter, compared to analyst estimates of $420.62 million. Eaton Vance had a net margin of 18.77% and a return on equity of 34.09%. Eaton Vance’s quarterly revenue was up 18.7% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.53 earnings per share.
EV has been the subject of a number of recent analyst reports. Zacks Investment Research raised shares of Eaton Vance from a “hold” rating to a “buy” rating and set a $68.00 target price for the company in a research note on Tuesday, January 23rd. ValuEngine raised shares of Eaton Vance from a “hold” rating to a “buy” rating in a research note on Sunday, December 31st. Deutsche Bank lowered their target price on shares of Eaton Vance from $62.00 to $61.00 and set a “buy” rating for the company in a research note on Tuesday, March 6th. Keefe, Bruyette & Woods reissued a “hold” rating and set a $59.00 target price on shares of Eaton Vance in a research note on Wednesday, April 11th. Finally, JPMorgan Chase set a $58.00 target price on shares of Eaton Vance and gave the company a “hold” rating in a research note on Wednesday, February 21st. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and two have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $56.31.
Shares of EV opened at $55.77 on Thursday. The firm has a market cap of $6,631.51, a PE ratio of 22.49, a P/E/G ratio of 0.64 and a beta of 1.69. Eaton Vance has a 12-month low of $42.53 and a 12-month high of $60.95. The company has a quick ratio of 9.40, a current ratio of 9.40 and a debt-to-equity ratio of 0.60.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 15th. Investors of record on Monday, April 30th will be paid a $0.31 dividend. This represents a $1.24 dividend on an annualized basis and a yield of 2.22%. The ex-dividend date of this dividend is Friday, April 27th. Eaton Vance’s dividend payout ratio (DPR) is presently 50.00%.
A number of large investors have recently added to or reduced their stakes in EV. Russell Investments Group Ltd. lifted its stake in Eaton Vance by 25.6% in the third quarter. Russell Investments Group Ltd. now owns 37,283 shares of the asset manager’s stock worth $1,841,000 after acquiring an additional 7,595 shares during the period. Dimensional Fund Advisors LP lifted its stake in Eaton Vance by 7.8% in the third quarter. Dimensional Fund Advisors LP now owns 1,070,988 shares of the asset manager’s stock worth $52,876,000 after acquiring an additional 77,906 shares during the period. Cornerstone Capital Management Holdings LLC. purchased a new stake in Eaton Vance in the third quarter worth about $2,163,000. Vident Investment Advisory LLC purchased a new stake in Eaton Vance in the third quarter worth about $219,000. Finally, Point72 Asset Management L.P. bought a new position in Eaton Vance in the third quarter worth about $760,000. 70.59% of the stock is owned by institutional investors.
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Eaton Vance Company Profile
Eaton Vance Corp., through its subsidiaries, engages in the creation, marketing, and management of investment funds in the United States. It also provides investment management and counseling services to institutions and individuals. Further, the company operates as an adviser and distributor of investment companies and separate accounts.
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